Thursday 2 July, 2020

Colm: Moody’s did not downgrade T&T

Finance Minister, Colm Imbert

Finance Minister, Colm Imbert

Minister of Finance, Colm Imbert is once again explaining that Trinidad and Tobago’s credit rating with worldwide agency Moody’s, has not changed despite claims of otherwise. 

Responding to an Urgent Question in the Senate today, Imbert said that Moody’s changed Trinidad and Tobago’s outlook, not its current credit standing. 

“Trinidad and Tobago’s credit rating remains BA1 with Moody’s and BBB- with Standard and Poors. The recent publication by Moody’s related to the outlook. There’s a huge difference between an outlook and a rating. Our rating wit Moody’s remains exactly as it was one year ago,” he said. 

Going a step further, Imbert clarified that Trinidad and Tobago’s situation isn’t far from what others are experiencing. 

“The outlook of virtually every single country in the world that has been assessed by Moody’s within the last month or two has changed to negative and it’s obvious why; we have a global pandemic called COVID-19,” Imbert implored. 

He says the outlooks have changed as a result of the losses countries project to receive from issues surrounding the virus. 

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